John A Posted August 10, 2001 Posted August 10, 2001 EGTRRA changed the rules to allow rollovers from 457 plans. Is this effective for all distributions after 12/31/01, or for distributions during the first plan year beginning in 2002, or when is the provision effective? (I am not very familiar with 457 plans - are there 457 plans with non-calendar year plan years?) If the distribution occurs 12/1/01, could the participant wait until after 12/31/01 and then roll over the amount received on 12/1/01?
Carol V. Calhoun Posted August 10, 2001 Posted August 10, 2001 The new rules apply to "distributions after December 31, 2001." EGTRRA § 641(f)(1). Thus, the plan year would be irrelevant. However, if the distribution occurred on or before December 31, 2001, the individual would not be able to roll it over, even if the rollover occurred after December 31, 2001. Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
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